Scotiabank Has Negative Outlook of AltaGas FY2025 Earnings

AltaGas Ltd. (TSE:ALA) – Analysts at Scotiabank cut their FY2025 earnings per share (EPS) estimates for shares of AltaGas in a research note issued on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings per share of $2.24 for the year, down from their previous forecast of $2.43. Scotiabank currently has a “Outperform” rating and a $39.00 target price on the stock. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of AltaGas from an “overweight” rating to a “neutral” rating and upped their price target for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. ATB Capital set a C$36.00 price target on AltaGas and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Jefferies Financial Group upped their price objective on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. CIBC lifted their price objective on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, AltaGas has a consensus rating of “Moderate Buy” and an average target price of C$38.30.

AltaGas Stock Down 0.5 %

Shares of ALA opened at C$33.94 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. AltaGas has a 52-week low of C$26.91 and a 52-week high of C$35.77. The company has a market cap of C$10.09 billion, a PE ratio of 23.41, a P/E/G ratio of -4.97 and a beta of 1.23. The business has a fifty day moving average of C$33.63 and a 200 day moving average of C$33.08.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Monday, December 16th. AltaGas’s payout ratio is 82.07%.

Insider Transactions at AltaGas

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Corporate insiders own 0.58% of the company’s stock.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.